BlockBeats News, April 28th, According to The Block, the price trend of Bitcoin this year has been correlated with gold or the Nasdaq index at different stages. However, analysts from research and brokerage firm Bernstein pointed out that short-term correlations can be misleading. They believe that factors such as retail investor sell-off fatigue, corporate acceleration of Bitcoin accumulation, and the inflow of funds from Exchange-Traded Fund (ETF) trading platforms are more important indicators—these signs indicate that a "supply squeeze" is forming, which could drive Bitcoin to new highs.
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